Let’s Buy Spain update: Filipino brand Emperador buys Spain’s Fundador
Listed liquor company Emperador Inc. owned by tycoon Andrew L. Tan has acquired Fundador Pedro Domecq, Spain’s largest and oldest brandy, in an “all-cash” deal worth 275 million euros, or P13.8 billion, the Inquirer learned Monday.
The purchase solidifies Emperador’s position as the world’s largest brandy company and makes the Tan-led firm one of the largest foreign investors in Jerez, the brandy capital of Spain. Under the deal closed on Saturday in Madrid, Grupo Emperador Spain S.A., a company owned by Emperador Inc., will acquire the brandy and sherry business of Beam Suntory in Jerez.
Aside from Fundador Pedro Domecq, the acquisition includes Terry Centenario, Spain’s top-selling brandy; Tres Cepas, Equatorial Guinea’s leading brandy; and Harvey’s, the United Kingdom’s top sherry wine. These brands carry a unique heritage and market leadership position in their respective categories, Emperador said in a statement furnished the Inquirer.
Fundador, or “founder” in Spanish, was the first brand to be marketed by Pedro Domecq Loustau in 1874. Made from Airen and Palomino grapes, Fundador was the first brand marketed as a Brandy de Jerez and is aged in a sherry-soaked Solera.
Read the full report. Thanks to Antiquary Anne for the alert.
To refresh your memory: Let’s Buy Spain.
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December 2nd, 2015 at 20:18
Lalo nang hindi bababa ang EMP stocks :(